Unaudited Forward-Looking Statements Regarding Business Outlook (In millions, except per share data) | ||||||
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Business Outlook |
| Three Months Ending January 2, 2021 | ||||
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|
| GAAP Measure |
| Non-GAAP Adjustments* |
| Non-GAAP Measure |
Gross margin |
| 59% |
| 0% |
| 59% |
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|
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|
|
Operating expenses |
| $123 |
| $28 |
| $95 |
|
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|
Effective tax rate |
| 0.0% |
| 13.0% |
| 13.0% |
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|
|
|
Diluted earnings per share - low |
| $0.02 |
| $0.66 |
| $0.68 |
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|
|
|
|
|
Diluted earnings per share - high |
| $0.12 |
| $0.66 |
| $0.78 |
|
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* Non-GAAP adjustments include the following estimates: stock compensation expense of $16.0 million, intangible asset amortization of $12.0 million, and interest expense adjustments of $6.0 million, and associated tax impact from the aforementioned items. |
Silicon Laboratories Inc. Condensed Consolidated Balance Sheets (In thousands, except per share data) (Unaudited) | |||
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|
| October 3,
|
| December 28,
|
Assets |
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Current assets: |
|
|
|
Cash and cash equivalents | $ 230,358 |
| $ 227,146 |
Short-term investments | 491,428 |
| 498,825 |
Accounts receivable, net | 80,460 |
| 75,639 |
Inventories | 66,159 |
| 73,057 |
Prepaid expenses and other current assets | 69,244 |
| 69,192 |
Total current assets | 937,649 |
| 943,859 |
Property and equipment, net | 139,673 |
| 135,939 |
Goodwill | 631,932 |
| 398,402 |
Other intangible assets, net | 178,076 |
| 134,279 |
Other assets, net | 55,745 |
| 62,374 |
Total assets | $1,943,075 |
| $1,674,853 |
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Liabilities and Stockholders' Equity |
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Current liabilities: |
|
|
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Accounts payable | $ 46,228 |
| $ 38,899 |
| Deferred revenue and returns liability | 22,323 |
| 19,251 |
| Other current liabilities | 82,595 |
| 79,551 |
| Total current liabilities | 151,146 |
| 137,701 |
| Convertible debt | 561,678 |
| 368,257 |
| Other non-current liabilities | 60,200 |
| 53,844 |
| Total liabilities | 773,024 |
| 559,802 |
| Commitments and contingencies |
|
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| Stockholders' equity: |
|
|
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| Preferred stock – $0.0001 par value; 10,000 shares authorized; no shares issued | -- |
| -- |
| Common stock – $0.0001 par value; 250,000 shares authorized; 43,827 and 43,496 shares issued and outstanding at October 3, 2020 and December 28, 2019, respectively | 4 |
| 4 |
| Additional paid-in capital | 183,471 |
| 133,793 |
| Retained earnings | 984,716 |
| 980,608 |
| Accumulated other comprehensive income | 1,860 |
| 646 |
| Total stockholders' equity | 1,170,051 |
| 1,115,051 |
| Total liabilities and stockholders' equity | $1,943,075 |
| $1,674,853 |
